Tata Power announced on Monday that it has reached an initial agreement with the Rajasthan government to spend Rs 1.2 trillion, including Rs 75,000 crore in green energy, in the state's power industry.

The 10-year plan intends to help Rajasthan become a power surplus state by ensuring a constant supply of clean, affordable, and dependable electricity.

According to a business statement, investments will be made in renewable energy projects, as well as manufacturing, transmission, distribution, nuclear power, rooftop installations, and EV charging.

The MoU was inked on Monday during the 'Rising Rajasthan' Investor Meet in New Delhi.

A total of Rs 20,000 crore would be spent in the state transmission and distribution sector to update grid infrastructure, minimize energy losses, and enhance electricity quality throughout the state.

Furthermore, Rs 10,000 crore would be invested in transmission networks, with the goal of investigating options for nuclear power plant development.

Nearly Rs 75,000 crore would be allocated for renewable energy projects. An investment of Rs 1,000 crore has been put aside to install 1 lakh EV charging outlets across Rajasthan.

Rooftop solar electricity will benefit 10 lakh homes under the PM Surya Ghar Yojana. The MoU will have a revolutionary socioeconomic impact, producing over 28,000 direct employment in the state.

Tata Power already has a major presence in Rajasthan, with a strong portfolio of energy projects. The business has completed 1 GW of solar and 185 MW of wind projects throughout the state, as well as 130 MW of rooftop solar systems.